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Defined-contribution (DC) pension schemes are growing in the UK, while defined-benefit (DB) pension schemes are declining. This shift is impacting the property sector, as DC schemes are less risky and complex for companies to manage. However, there are obstacles preventing DC funds from investing in illiquid assets like property, and the Association of Real Estate Funds (AREF) is calling for the government to address these issues. AREF is proposing a move from an Individual Account model to a Collective DC model, where contributions are pooled and invested collectively. The decline in DB funds' property investment could lead to more international investors entering the market, but they may focus on larger assets in major cities rather than smaller regional projects. Some UK DC schemes are considering allocating capital to illiquid assets to improve outcomes for members, and the government supports greater investment in illiquid asset classes. The Financial Conduct Authority, Bank of England, and HM Treasury have recommended measures to encourage investment in illiquid and longer-term assets, including the creation of the long-term asset fund (LTAF). However, there are challenges to the LTAF, and these issues need to be addressed to fully unlock the benefits of DC investment in real assets. The chancellor is expected to use the Autumn Statement to maximize the benefits of DC pension funds and other sources for investment in commercial real estate and infrastructure. [Extracted from the article]

The article focuses on better understanding of conduct risk among regulators in the banking and financial services industry in Great Britain. Topics discussed include the function of the Prudential Regulation Authority and New York Federal Reserve Bank, results of the Fair and Effective Markets Review (FEMR), published by the Bank of England and the Financial Conduct Authority, and risk culture.

At the beginning of July, the Bank of England (BoE) and Financial Conduct Authority (FCA) gave notice to the UK's financial institutions that they had three months in which to produce reports on how they avoid IT failures and mitigate cyber-attacks. [ABSTRACT FROM AUTHOR]

The article reports on the memorandum of understanding signed by the Great Britain Financial Conduct Authority and the Bank of England in relation to the supervision of markets and financial market infrastructures.

The article focuses on the joint paper of the Bank of England (BOE) and the U.S. Federal Deposit Insurance Corp. entitled "Resolving Globally Active, Systematically Important, Financial Institutions" (G-SIFIs). It states that some of the claims of unsecured debt holders would be converted into equity to provide capital for the private sector. It mentions that the Financial Services Authority would be replaced by the Financial Conduct Authority and the Prudential Regulation Authority (PRA).

The article presents information technology (IT) industry-related news briefs as of April 14, 2014. It states that Mike Errington, head of IT at the Royal Bank of Scotland, is planning on retiring. It mentions that the British Prudential Regulation Authority, Financial Conduct Authority and Bank of England are investigating banking industry IT after several high-profile outages left customers unable to access their money. It comments that Britain is updating its 1988 copyright laws.

The article talks about developments in the U.S. financial services industry as of April 15, 2015. Great Britain's Financial Conduct Authority has fined Bank of New York Mellon for failing to keep client money separate from its own proprietary accounts in its London, England office. Supermarket chain Target will reimburse banks for the costs associated with its 2013 data breach. The U.S. Federal Reserve and the Bank of England are planning to change the rules for repurchase agreements.